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Mineral Properties
 9 Months Ended
Sep. 30, 2025
Mineral Properties  
Mineral Properties

9. Mineral Properties

 

Mineral properties at September 30, 2025 and December 31, 2024 consisted of the following:

 

 

 

September 30,

2025

 

 

December 31,

2024

 

Golden Chest

 

 

 

 

 

 

Mineral Property

 

$5,501,038

 

 

$5,159,084

 

Infrastructure

 

 

6,304,002

 

 

 

4,722,328

 

Total Golden Chest

 

 

11,805,040

 

 

 

9,881,412

 

 

 

 

 

 

 

 

 

 

New Jersey

 

 

256,768

 

 

 

256,768

 

McKinley-Monarch

 

 

200,000

 

 

 

200,000

 

Potosi

 

 

150,385

 

 

 

150,385

 

Park Copper/Gold

 

 

78,000

 

 

 

78,000

 

Eastern Star

 

 

250,817

 

 

 

250,817

 

Oxford

 

 

40,000

 

 

 

40,000

 

Accumulated Amortization

 

 

(431,873)

 

 

(284,033)

 

 

 

 

 

 

 

 

 

Total

 

$12,349,137

 

 

$10,573,349

 

 

In the three-month period ended September 30, 2025, the Company purchased the Toboggan property adjacent to the Golden Chest Mine for $300,000.

 

For the three and nine-month periods ended September 30, 2025 and 2024, amortization expense for mineral properties was as follows.

 

September 30, 2025

 

 

September 30, 2024

 

Three Months

 

 

Nine Months

 

 

Three Months

 

 

Nine Months

 

$

59,946

 

 

$147,840

 

 

$30,364

 

 

$79,859

 

 

For the three and nine-month periods ended September 30, 2025 and 2024, interest expense was capitalized in association with infrastructure at the Golden Chest Mine as follows.

 

September 30, 2025

 

 

September 30, 2024

 

Three Months

 

 

Nine Months

 

 

Three Months

 

 

Nine Months

 

$

60,886

 

 

$156,825

 

 

$5,218

 

 

$48,392